Bayview Asset Management LLC Acquires New Stake in Flagstar Financial, Inc. $FLG

Key Points

• Bayview Asset Management LLC has acquired 166,666 shares of Flagstar Financial, Inc. for approximately $1.94 million, making it the firm's 6th largest holding.
• Research analysts have mixed views on Flagstar Financial, with Citigroup raising its price target to $16.50 while other firms set lower targets, resulting in an average target price of $13.33.
• Flagstar Financial's recent earnings report showed a loss of ($0.14) EPS against estimates of ($0.12), with revenues down 26.1% compared to last year.

Bayview Asset Management LLC purchased a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 166,666 shares of the company's stock, valued at approximately $1,937,000. Flagstar Financial comprises approximately 0.8% of Bayview Asset Management LLC's portfolio, making the stock its 6th biggest position.

Other large investors also recently modified their holdings of the company. Liberty 77 Capital L.P. purchased a new position in Flagstar Financial in the 1st quarter worth approximately $871,500,000. Reverence Capital Partners L.P. purchased a new position in Flagstar Financial in the 1st quarter worth approximately $418,101,000. Vanguard Group Inc. purchased a new position in Flagstar Financial in the 1st quarter worth approximately $378,161,000. T. Rowe Price Investment Management Inc. purchased a new position in Flagstar Financial in the 1st quarter worth approximately $76,911,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Flagstar Financial during the first quarter valued at approximately $43,009,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Financial Stock Performance

FLG traded down $0.09 during trading on Tuesday, reaching $12.73. The company's stock had a trading volume of 1,212,599 shares, compared to its average volume of 6,371,583. The company's fifty day moving average price is $11.65 and its 200-day moving average price is $11.63. Flagstar Financial, Inc. has a 52-week low of $8.56 and a 52-week high of $13.35. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -7.72 and a beta of 1.20.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The firm had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. The firm's quarterly revenue was down 26.1% on a year-over-year basis. On average, equities analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Financial's dividend payout ratio (DPR) is presently -2.42%.

Analysts Set New Price Targets

FLG has been the topic of several research reports. Truist Financial dropped their price target on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. DA Davidson reissued a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a research note on Thursday, June 26th. Stephens reaffirmed an "equal weight" rating and set a $12.50 price target on shares of Flagstar Financial in a research report on Thursday, June 12th. Jefferies Financial Group initiated coverage on Flagstar Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.33.

About Flagstar Financial

Flagstar Financial, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.